LONDON, April 21, 2026 /PRNewswire/ — CFA Institute, the global association of investment professionals, has published its response to the Financial Conduct Authority’s (FCA) Review into the long-term impact of artificial intelligence on retail financial services (the “Mills Review”). CFA Institute welcomes the FCA’s technology-neutral approach, while urging greater operational clarity to ensure responsible AI deployment.

In its submission, CFA Institute supports anchoring AI oversight within the UK’s existing principles-based framework, including the Consumer Duty and the Senior Managers and Certification Regime (SM&CR), rather than introducing a standalone AI rulebook. However, it emphasizes that supervisory expectations must be clearer and more practical as AI systems move from assistive tools to advisory functions and, ultimately, autonomous agents.

CFA Institute argues that regulation should follow what AI systems do for consumers, not how they are labelled or constructed. AI-enabled retail interfaces may generate “advice-like” outcomes, such as personalized product steering or portfolio construction guidance, without formally crossing regulatory thresholds. A substance-over-form approach is therefore essential to prevent regulatory arbitrage and ensure consistent consumer protection.

While the Consumer Duty provides a robust foundation, CFA Institute calls for AI-specific articulation of how its four outcomes apply where decision-making is increasingly delegated to automated systems. In particular, the response highlights a risk of automation bias, which may reduce effective consumer outcomes, especially among vulnerable customers.

Firms should be expected to test, monitor and evidence outcomes based on how consumers actually use AI systems in practice, not solely on how they are intended to function.

The submission also identifies a potential governance gap where firms report formal accountability for AI systems yet lack deep operational understanding of complex or third-party models. CFA Institute recommends clearer expectations around what “reasonable steps” and “meaningful oversight” mean under SM&CR and SYSC when AI is deployed in material retail use cases.

It further calls for:

A proportionate, tiered governance framework aligned to the assistive–advisory–autonomous spectrumClear allocation of end-to-end accountability for consumer outcomesReinforced oversight of third-party AI dependencies and operational resilience risks.

Although retail-focused, the response underscores broader market structure implications, including model concentration, correlated behavior, and third-party dependencies that could amplify volatility in stressed conditions. CFA Institute encourages close coordination between the FCA and the Bank of England, as well as continued alignment with IOSCO and the Financial Stability Board, to reduce fragmentation and support the UK’s global competitiveness.

Finally, CFA Institute stresses that responsible AI adoption depends on developing “hybrid” talent, professionals who combine technological fluency with fiduciary judgement and market expertise. Strengthening professional standards and supervisory capability should form part of the UK’s long-term AI competitiveness strategy.

Olivier Fines, CFA, Head of Advocacy and Capital Markets Policy at CFA Institute, said: “Artificial intelligence has the potential to expand access, improve efficiency and strengthen retail financial services, but only if trust and accountability remain firmly at the center.

“The UK’s principles-based framework is advantageous. The priority now is operational clarity: clear guidance on how the Consumer Duty and SM&CR apply when decision-making is increasingly delegated to AI systems.

“Regulation should follow function, not technological form. Where AI systems effectively shape or execute consumer decisions, protections must apply in substance, not just in label.

“We encourage the FCA to provide practical supervisory guidance by the end of 2026 and to continue close dialogue with industry and international standard-setters. With proportionate safeguards, meaningful oversight and investment in hybrid professional skills, the UK can play a leading role in responsible AI-enabled finance while preserving market integrity and public trust.”

About CFA Institute

As the global association of investment professionals, CFA Institute sets the standards for professional excellence and credentials. We champion ethical behavior in investment markets and serve as the leading source of learning and research for the investment industry. We believe in fostering an environment where investors’ interests come first, markets function at their best, and economies grow. With more than 200,000 charterholders worldwide across more than 160 markets, CFA Institute has 9 offices and 157 local societies. Find us at https://www.cfainstitute.org/ or follow us on LinkedIn, and subscribe on YouTube.

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SCOTTSDALE, Ariz., April 21, 2026 /PRNewswire/ — Resideo Technologies, Inc. (NYSE: REZI), a leading global manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions for residential and commercial end-markets, will release first quarter 2026 financial results after the close of the New York Stock Exchange on Tuesday, May 12, 2026. A webcast to discuss the results will be held on Tuesday, May 12, 2026 at 5:00 p.m. EDT.

Event: Resideo First Quarter 2026 Financial Results Conference Call
Date: Tuesday May 12, 2026
Time: 5:00 p.m. EDT / 2:00 p.m. PDT
Webcast link: REZI Q1’26 Call

About Resideo

Resideo is a leading global manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions for residential and commercial end-markets. We are a leader in the home heating, ventilation, and air conditioning controls markets, smoke and carbon monoxide detection home safety and fire suppression products markets, and security products markets. Our solutions and services can be found in over 150 million residential and commercial spaces globally, with tens of millions new devices sold annually. For more information about Resideo and our trusted, well-established brands including First Alert, Honeywell Home, BRK, Control4, and others, visit www.resideo.com.

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SOURCE Resideo Technologies, Inc.

LONDON, April 21, 2026 /PRNewswire/ — World-renowned drone show artists Celestial (https://celestial.show/) have been revealed as the company behind the spectacle over Belfast Harbour that has captured global attention. Commissioned as part of the BBC’s Made Of Here campaign, the project set out to symbolically bring RMS Titanic back to life using drone show technology.

The activation saw 950 drones rise from the water, forming a full-scale replica of the iconic ship. The effect created the illusion of the Titanic emerging once again from the harbour where she was built 114 years ago.

The concept began with a deceptively simple brief: recreate Titanic in the place of its origin and see the ship sail once again. Celestial delivered this through a 10-minute display combining historical accuracy with advanced drone choreography. Using original ship plans, the team modelled each structural detail, from hull to masts and smokestacks, in 3D before converting this into a precise drone formation, with each drone acting as a point of light within the wider image.

As the show unfolded, drones hovered low over the water in darkness before illuminating and ascending in unison. They revealed a life-sized (1:1 scale) replica of the Titanic, complete with recognisable detail and structure. The sequence culminated in a 75 metre movement, giving the impression of the ship sailing once more, an effect widely described as haunting and awe-inspiring.

Delivering the project at this scale required months of planning. Flight paths, timing and light transitions were programmed to ensure both visual impact and operational safety, with Celestial working alongside Belfast City Airport and Belfast Harbour. The result was a reveal that balanced technical precision with emotional impact, paying tribute to the ship’s legacy and Belfast’s shipbuilding heritage.

“The real challenge wasn’t the number of drones, it was the scale of the image. At more than double what we would typically fly, it brought a different level of complexity. But what stayed with us most was the emotional impact. Seeing Titanic back over the water where she was built goes beyond the technology. That’s what matters,” said John (JP) Partridge, Director and Head of Production at Celestial.

The creative vision behind the project was led by Paul Brolly, Head of Creative at BBC Northern Ireland, who said: “Sometimes an idea just works. Hugely ambitious. Do something no-one has ever attempted. Face into all the challenges. Bring on board the very best people to make it real.”

Media Contact: Ottilie Culloty, Head of Sales & Marketing, Celestial oc@celestial.show

https://www.youtube.com/watch?v=X-aXfxKsCmg

https://www.bbc.co.uk/mediacentre/2026/made-of-northern-ireland-titanic-sized-drone-display

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